GM to form China venture with FAW, invest $293 mln

Newswire

SHANGHAI, Aug 30 (Reuters) - General Motors [GM.UL] said on Sunday it has agreed to set up a 50-50 light commercial vehicle joint venture with major Chinese automaker FAW Group, with total investment of 2 billion yuan ($293 million). The venture, based in the northeast China city of Changchun in Jilin province, will make light-duty trucks and vans, GM said in a statement. ($1=6.830 Yuan) (Reporting by Fang Yan and Edmund Klamann)

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